U.S. sets final dumping and subsidy rates on iron mechanical components from China, Canada

Updated 2016-10-25 10:27:31 Xinhua

The U.S. Commerce Department on Monday set final dumping and subsidy rates on imported imports of certain iron mechanical transfer drive components from China and Canada, signaling that it may impose punitive duties on the products.

The department made its final affirmative determination that those iron mechanical components, including pulleys, flywheels and bushings, from China and Canada had been sold in the United States at dumping margins of 13.64 percent to 401.68 percent and 100.47 percent to 191.67 percent, respectively.

Commerce also determined that imports of such products from China received countervailable subsidies of 33.26 percent to 163.46 percent.

The U.S. International Trade Commission (ITC) is scheduled to make its final determination around December 5, 2016. If the ITC reaches an affirmative final determination that these products materially injure or threaten material injury to the U.S. industry, the Commerce Department would issue antidumping duty (AD) and countervailing duty (CVD) orders. If the ITC makes a negative determination of injury, the investigations will be terminated.

The U.S. Commerce Department launched the anti-dumping and countervailing duties probes over Chinese and Canadian iron mechanical components in November 2015 requested by TB Wood' s Incorporated based in the U.S. state of Pennsylvania .

In 2014, imports of these products from China and Canada were estimated at 274.3 million U.S. dollars and 222.3 million dollars, respectively, according to U.S. official data.

The case comes at a time when U.S. steel producers increasingly resort to trade remedy and tariff protection to ride out a sluggish steel market, as steel excess capacity has become an acute global challenge.

U.S. trade experts have warned that resorting to protectionism will not cure the U.S. steel industry's grave ills, and that import restrictions serve to harm the overall U.S. economy rather than help it.

The Chinese Ministry of Commerce has repeatedly urged the United States to abide by its commitment against protectionism and work together with China and other countries to maintain a free, open and just international trade environment.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 23 2017 19:45:31

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 23 2017 19:45:31

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 23 2017 19:45:31

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords